The global Smart Building Market accrued earnings worth approximately 67.4 (USD Billion) in 2020 and is predicted to gain revenue of about 121.3 (USD Billion) by 2028, is set to record a CAGR of nearly 10.6% over the period from 2021 to 2028.
The global Smart Building Market accruedearnings worth approximately 67.4 (USD Billion) in 2020 and ispredicted to gain revenue of about 121.3 (USD Billion) by 2028, isset to record a CAGR of nearly 10.6% over the period from 2021 to2028. The report offers assessment and analysis of theSmart Building Market on a global and regionallevel. The study offers a comprehensive assessment of the marketcompetition, constraints, revenue estimates, opportunities,evolving trends, and industry-validated data. The report provideshistorical data from 2018 to 2020 along with a forecast from 2021to 2028 based on revenue (USD Billion).
Smart building is a kind of infrastructure making utilization ofautomation for controlling building operations includingventilation, air conditioning, heating, and lighting. Furthermore,sensors, microchips, and actuators are used in buildings forgathering data along with effectively handling its functions & activities. Moreover, smart building infrastructure assistsoperators as well as facility managers in enhancement of assetperformance which results in space optimization along with powerutility and minimizes impact of environmental pollution onstructures.
Surge in acceptance of IoT-based building management systemsalong with massive demand for power efficient tools will steergrowth of smart building market over upcoming years. Apart fromthis, evolution of 5G technology and growing smart city concepts isset to create new growth avenues for smart building industry overforecasting timeframe. Need for reducing operating costs, securitymanagement expenses, tenant management costs, and buildingperformance management charges will proliferate expansion of smartbuilding industry. Rise in need of safe & healthy workspace ispredicted to propel industry trends.
Furthermore, use of smart systems for sanitizing, proper officeventilating, temperature measuring, and space optimization willculminate into humungous elevation of size of smart building marketin coming years. Smart technology used in smart buildings can helpin tracking of movement of staff, thereby restricting spread ofdiseases. With smart systems interacting with people & processesalong with offering real-time information to employers to ensuresafety of staff is projected to prop up demand for constructing ofsmart buildings across globe. Swift urbanization is set to spikegrowth of smart building market over forecasting timespan.Nonetheless, rise in cases of cyber-attacks in smart buildings canpose a threat to expansion of smart building industry overanticipated period.
Introduction of green building initiatives is predicted tocreate strong growth platform for smart building market insub-continent. Growing concerns pertaining to power consumption hasresulted in demand for launching of new energy efficient systemsfor building, thereby driving regional market trends. Presence ofgiant firms in countries such as the U.S. will promulgate scope ofsmart building market growth in North America over forecastingtimespan.
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Key players favorably impacting growth of smart buildingindustry landscape and profiled in report are Siemens AG, Johnsoncontrols, ABB Group, Cisco Systems, Schneider SE, UnitedTechnologies Corporation, BuildingIQ, Inc., HoneywellInternational, IBM Corporation, and Delta Controls.
The global Smart Building Market is segmented asfollows:
List of Figures
1. Market research Type
2. Market research methodology
3. Global Smart Building Market, 2018–2028(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Smart Building Marketattractiveness, By Application
6. Global Smart Building Marketattractiveness, By Automation Type
7. Global Smart Building Marketattractiveness, By Service
8. Global Smart Building Marketshare by Application ,2020 and 2028 (USD Billion)
9. Global Smart Building Marketby Commercial, 2018–2028(USD Billion)
10. Global Smart Building Marketby Industrial, 2018–2028(USD Billion)
11. Global Smart Building Marketby Residential, 2018–2028(USD Billion)
12. Global Smart Building Marketshare by Automation Type,2020 and 2028 (USD Billion)
13. Global Smart Building Marketby ENERGY MANAGEMENT, 2018–2028(USD Billion)
14. Global Smart Building Marketby Intelligent Security Systems, , 2018–2028(USD Billion)
15. Global Smart Building Marketby Infrastructure Management, , 2018–2028(USD Billion)
16. Global Smart Building Marketby Network & Communication Management, , 2018–2028(USD Billion)
17. Global Smart Building Marketshare by Service ,2020 and 2028 (USD Billion)
18. Global Smart Building Marketby Professional Services, 2018–2028(USD Billion)
19. Global Smart Building Marketby Managed Services, 2018–2028(USD Billion)
20. Global Smart Building Marketshare, by Region, 2020 and 2028
21. North America Smart Building Market, 2018–2028(USD Billion)
22. Europe Smart Building Market, 2018–2028(USD Billion)
23. Asia Pacific Smart Building Market, 2018–2028(USD Billion)
24. Latin America Smart Building Market, 2018–2028(USD Billion)
25. The Middle East and Africa Smart Building Market, 2018–2028(USD Billion)
List of Tables
1. Global Smart Building Market: snapshot
2. Drivers of the Smart Building Market: impact analysis
3. North America Smart Building Marketrevenue, By Application ,2018–2028(USD Billion)
4. North America Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
5. North America Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
6. The U.S. Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
7. The U.S. Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
8. The U.S. Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
9. Rest of North America Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
10. Rest of North America Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
11. Rest of North America Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
12. Europe Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
13. Europe Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
14. Europe Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
15. UK Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
16. UK Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
17. UK Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
18. France Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
19. France Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
20. France Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
21. Germany Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
22. Germany Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
23. Germany Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
24. Rest of Europe Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
25. Rest of Europe Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
26. Rest of Europe Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
27. Asia Pacific Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
28. Asia Pacific Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
29. Asia Pacific Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
30. China Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
31. China Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
32. China Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
33. Japan Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
34. Japan Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
35. Japan Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
36. India Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
37. India Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
38. India Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
39. Rest of Asia Pacific Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
40. Rest of Asia Pacific Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
41. Rest of Asia Pacific Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
42. Latin America Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
43. Latin America Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
44. Latin America Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
45. Brazil Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
46. Brazil Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
47. Brazil Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
48. Rest of Latin America Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
49. Rest of Latin America Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
50. Rest of Latin America Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
51. The Middle East and Africa Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
52. The Middle East and Africa Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
53. The Middle East and Africa Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
54. Saudi Arabia Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
55. Saudi Arabia Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
56. Saudi Arabia Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
57. South Africa Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
58. South Africa Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
59. South Africa Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
60. Rest of the Middle East & Africa Smart Building MarketRevenue, By Application ,2018–2028(USD Billion)
61. Rest of the Middle East & Africa Smart Building MarketRevenue, By Automation Type,2018–2028(USD Billion)
62. Rest of the Middle East & Africa Smart Building MarketRevenue, By Service ,2018–2028(USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global Smart Building market. Zion Market Research has collected and analyzed key data belong to the global Smart Building market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Smart Building across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Smart Building industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Smart Building market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Surge in acceptance of IoT-based building management systems along with massive demand for power efficient tools will steer growth of smart building market over upcoming years. Apart from this, evolution of 5G technology and growing smart city concepts is set to create new growth avenues for smart building industry over forecasting timeframe. Need for reducing operating costs, security management expenses, tenant management costs, and building performance management charges will proliferate expansion of smart building industry. Rise in need of safe & healthy workspace is predicted to propel industry trends.
Furthermore, use of smart systems for sanitizing, proper office ventilating, temperature measuring, and space optimization will culminate into humungous elevation of size of smart building market in coming years. Smart technology used in smart buildings can help in tracking of movement of staff, thereby restricting spread of diseases. With smart systems interacting with people & processes along with offering real-time information to employers to ensure safety of staff is projected to prop up demand for constructing of smart buildings across globe.
According to Zion market research report, the global Smart Building Market accrued earnings worth approximately 67.4 (USD Billion) in 2020 and is predicted to gain revenue of about 121.3 (USD Billion) by 2028, is set to record a CAGR of nearly 10.6% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to introduction of green building initiatives. In addition to this, growing concerns pertaining to power consumption has resulted in demand for launching of new energy efficient systems for building, thereby steering regional market trends. Presence of giant firms in countries such as the U.S. will promulgate scope of smart building market growth in North America over forecasting timespan.
The key market participants include Siemens AG, Johnson controls, ABB Group, Cisco Systems, Schneider SE, United Technologies Corporation, BuildingIQ, Inc., Honeywell International, IBM Corporation, and Delta Controls.
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